Crunching the Numbers

Master’s Program in Quantitative Economics Prepares Graduates to Succeed in Emerging Field

Today, more and more of our lives are governed by mathematical equations called algorithms. These equations perform a variety of functions, from determining prison sentences to executing Google search requests to encrypting data. The significant roles these algorithms play in a wide range of fields has led to a swift rise in employer demand for those who can take the data they create and make sophisticated interpretations and predictions.

“We offer in a comparatively affordable way a program with a high research faculty-to-student ratio, combining rigorous training in economic modeling with access to many job opportunities in such areas as macro-labor economics, public finance, monetary policy, financial economics and market design,” said Dr. Alessandro Citanna, director of the program.

Another noteworthy aspect of the program is its international collaboration with the Paris 1 University Pantheon-Sorbonne to give selected students the opportunity to spend one semester in Paris, France, taking advanced courses in quantitative economics in a partnership with other European universities, including Universitat Autònoma de Barcelona in Spain, IMW – Institute of Mathematical Economics of Universität Bielefeld in Germany and Università Ca’ Foscari Venezia in Italy.

Wenxun Wu, who graduated this year, traveled from China to study in the program. He decided to attend YU after scouting out several other schools because “I found the background of all the professors impressive and the University was located in the heart of Manhattan. You couldn’t pick a better choice if you want to both prepare academically and professionally.” He enjoyed the carefully organized curriculum and individualized attention from faculty, who were available for any question he had.

The program’s recent alumni have gone on to successful occupations in the financial industry, securing positions in companies like the Royal Bank of Canada, Barclays, Royal Bank of Scotland, and Weitian Group, as well as prestigious PhD programs at Toulouse School of Economics, Rochester University, Indiana University and Rutgers University.

Dr. Ran Shao

That’s not surprising, according to Dr. Ran Shao, assistant professor in the department of economics. “The program provides students with rigorous training in economics and the necessary technical tools to enable them to apply economics knowledge in both professional work and academic research,” he said. Because the faculty are active in research and well-recognized in the academic community, “students wanting to go on to a PhD get excellent advice and direct recommendations to PhD programs.”

“The program provides an affordable master’s program that does PhD-level work,” said Citanna. “Being at YU connects our students to the heart of the field within New York City and affords them opportunities to become important people within their professions. And because they are in New York City, they have the opportunity to interact with people with all kinds of backgrounds and network with people in all kinds of related industries.”